MTC strategic management ppt. Leanne d. Narteh.pptx

MTC strategic management solution

1. Medical Technologies corporation(MTC) strategic management L.D.N

2. Problem Statement MTC, is facing a dilemma of producing cost savings large enough to cover the newly imposed Medical Device Excise Tax of 2.3% of revenue. The surgical devices that MTC sells put them squarely into the focus of this tax, and after taxes, 2.3% of sales translated into over 10% reduction in MTC’s profits. The MTC Board of Directors needs a solution for a cost savings strategy large enough to cover the tax. Sales growth dropped from 11% to 4% after 2012.

3. Summary MTC improvement plans Eliminate trunk sales Reducing inventory cost In house sterilization Improve relationships with customers Productivity and distribution efficiency Product visibility Enhance revenue streams by using the right forecast method

4. SHORT TERM SOLUTION LONG TERM SOLUTION use smart inventory tracking system reduce loaners for inventory management Reduce blocked capital manage smart kiosks efficient inventory management at the hospitals develop smart kiosk. create 3pl distribution system Reduce lead time create the right forecasting method revenue streams enhanced, acquisitions use lean six sigma to improve the flow of the product. 3 rd party healthcare distributor and healthcare provider Establish sales channel in-house sterilization create a in- house sterilization center

5. Ideas for development MTC needs to bolster its role as a vital supplier. This will entail making the most of its current connections and proving its worth to possible partners. Control handoffs to minimize bottlenecks and guarantee seamless handoffs. Sync up operational limitations with long-term targets and aims. Change the sales model to boost revenue and promote long-term expansion. Success in a cutthroat market mostly depends on brand awareness and product presence. It is necessary to put risk mitigation techniques into practice to guard against possible hazards. To increase revenue, activities with a high profit impact should be given priority .

6. Resource for required development Operations Lean Manufacturing Consulting is an expert in assisting businesses in streamlining their operations and getting rid of waste. The key to a successful implementation is top management's commitment to lead change. For long-term success, employment orientation and ongoing training are also crucial. Strategy Identification of targeted hospital segments will allow for more personalized marketing strategies and improved outreach. Creating co-creation of innovative products and enhancing the knowledge base of stakeholders will ultimately lead to better healthcare outcomes for all patients involved. Invest in an in-house sterilization facility..

7. Conclusion the supply chain that is lean Enhancing MTC performance, raising client happiness, enhancing the quality control system, and reducing risk may all be achieved with the use of a lean supply chain approach. MTC's ambition for upcoming relationships will be realized with the aid of the aforesaid plan.